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2. Contracts <br />No contracts have been entered into at the time of the <br />preparation of this Tax Increment Financing Plan. <br />Proposed contracts for services associated with Tax Increment <br />Financing District No. 13 include: <br />Contract for Construction of a 15,000 Square Foot <br />Facility (TL Feeding Systems) <br />Soil Borings and Analysis <br />Site Preparation and Development <br />E. FINANCIAL ANALYSIS OF TAX INCREMENT FINANCING <br />DISTRICT NO. 13 <br />Tax Increment Financing District No. 13 Cost Estimates <br />Budget Amount <br />Land Write Down $163,350 <br />Site Survey <br />Site Preparation $ 1.1,650 <br />Soil Borings and Analysis <br />Administration $ 2,500 <br />Legal $ 2,500 <br />Cost of Issuance Fees <br />Bond Discount <br />Capitalized Interest <br />Miscellaneous $ <br />Total $177,500 <br />2. Bonded Indebtedness <br />The City of Elk River anticipates apay-as-you-go Tax Increment <br />Financing District No. 13 and no bonds will be issued. <br />3. Sources of Revenue to Pa~lic. Costs <br />Tax Increments collected from the TL Feeding Systems, <br />expansion will be used to pay the .public costs associated <br />with Tax Increment Financing District No. 13. <br />4. Original Tax Capacity <br />The original net tax capacity, based on the 1994 valuation, for <br />the real property in Tax Increment District No. 13 is estimated <br />to be $93$. The County Auditor Certification attributable to <br />• this value is attached as Exhibit C. <br />